Empowered Funds LLC Grows Position in First Busey Corporation $BUSE

Empowered Funds LLC grew its holdings in First Busey Corporation (NASDAQ:BUSE) by 16.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 475,547 shares of the bank’s stock after buying an additional 65,745 shares during the quarter. Empowered Funds LLC’s holdings in First Busey were worth $12,017,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Parkside Financial Bank & Trust acquired a new position in First Busey during the fourth quarter worth about $28,000. Litman Gregory Wealth Management LLC purchased a new stake in First Busey during the 4th quarter valued at about $30,000. Allworth Financial LP raised its holdings in First Busey by 127.8% in the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after acquiring an additional 888 shares during the last quarter. Torren Management LLC acquired a new stake in First Busey in the 4th quarter valued at about $40,000. Finally, Geneos Wealth Management Inc. lifted its stake in First Busey by 726.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after purchasing an additional 2,004 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting First Busey

Here are the key news stories impacting First Busey this week:

• Positive Sentiment: First Busey reported diluted earnings of $0.69 per share, up from $0.52 a year ago and above analyst expectations of approximately $0.63–$0.65. Net income rose to $63.2 million from $47.4 million in the prior-year quarter. First Busey Q2 Earnings Top Estimates
• Positive Sentiment: Profitability improved, with adjusted return on average assets reaching 1.43%, adjusted return on tangible common equity reaching 14.61% and the efficiency ratio improving to 54.0% from 55.3% a year earlier.
• Positive Sentiment: Deposit balances grew 11% on an annualized basis during the quarter, while the loan-to-deposit ratio improved to 87.2%. The Common Equity Tier 1 ratio increased to 12.53%, supporting balance-sheet strength and future capital deployment.
• Positive Sentiment: Wealth management delivered a third consecutive record quarter for fee income, with assets under care rising to $16.51 billion. Busey also repurchased 2.34 million shares for $63.1 million and paid a $0.26 common-stock dividend.
• Positive Sentiment: Net interest margin expanded year over year to 3.72%, while net charge-offs declined to 0.19%. The company’s conservative credit approach and $8.85 billion of available liquidity provide additional investor support.
• Neutral Sentiment: Quarterly revenue of approximately $194.3 million fell short of the roughly $197.6 million analyst consensus. Net interest income also declined modestly from the first quarter as loan balances and purchase-accounting accretion decreased. First Busey Reports Sales Below Analyst Estimates
• Negative Sentiment: Nonperforming assets increased $20.4 million sequentially to $70.3 million, and classified assets also rose. Although credit losses and net charge-offs remained manageable, the deterioration warrants monitoring, particularly given First Busey’s commercial real estate exposure.

First Busey Stock Performance

NASDAQ:BUSE opened at $30.72 on Thursday. The company’s 50-day moving average is $28.74 and its two-hundred day moving average is $26.76. First Busey Corporation has a 1-year low of $21.63 and a 1-year high of $31.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 12.69 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $194.27 million during the quarter, compared to the consensus estimate of $197.59 million. First Busey had a net margin of 21.00% and a return on equity of 10.42%. Analysts forecast that First Busey Corporation will post 2.6 EPS for the current year.

First Busey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, July 24th. First Busey’s dividend payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BUSE shares. Zacks Research upgraded First Busey from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded First Busey from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded First Busey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Piper Sandler raised their target price on First Busey from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Stephens lifted their price target on First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.75.

Insider Transactions at First Busey

In other First Busey news, CAO Scott A. Phillips bought 5,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was bought at an average price of $25.90 per share, with a total value of $129,500.00. Following the completion of the purchase, the chief accounting officer directly owned 8,350 shares in the company, valued at $216,265. The trade was a 149.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.77% of the stock is currently owned by company insiders.

First Busey Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.